(Central Islip, NY) March 25, 2015 – Maltz Auctions, a premier full-service auction company serving the New York metropolitan region, announced today they are conducting the upcoming auction of the Broadway Inn and Suites hotel in Petersburg, VA jointly with Motleys Asset Disposition Group, an auction firm conveniently located in the same city.

With tremendous exposure from and directly off I-95, Broadway Inn and Suites is ideal for hoteliers as the property’s four buildings include 137 guest rooms, an onsite restaurant, two banquet rooms and an outdoor pool.

This live auction will be held simultaneously, both onsite at 405 East Washington Street, Petersburg, VA as well as at Maltz Auctions Auctioneer’s Gallery, 39 Windsor Place, Central Islip, N.Y. on Thursday, April 23rd, 2015 at 11:00 a.m. with registration beginning at 10:00 a.m. Online/absentee bidding will be available with registration at least three business days prior to auction.

“By conducting this auction with another well-regarded firm located right near the property, it enables us to reach a wider array of bidders and investors, both local and out-of-town,” said Richard Maltz, the president of Maltz Auction’s real estate auction division.

Tim Dudley of Motleys added,” The Petersburg, VA area has a firm place in our nation’s history and it’s a place of great commercial and economic importance. Situated just twenty-three miles south of Richmond, VA, with a lot size of more than 3.5 acres, and with a suggested opening bid of just $450,000.00, we are receiving interest from both hoteliers and developers.”

In order to register to bid, all prospective bidders must present a bank check in the amount of $45,000 made payable to “Motleys Asset Disposition Group”. Closing must occur within 45 days of the auction, with a possible 30-day extension granted if an additional 10% deposit is posted. This property is subject to sale prior to auction as pre-auction offers are being considered. Please download the complete Terms and Conditions of Sale at MaltzAuctions.com.

About Maltz Auctions

Maltz Auctions is a premier, full-service auction company specializing in creating liquidity through the auction method of marketing. Now a $100+ million company with an impeccable reputation for professionalism, integrity and success, Maltz Auctions has conducted thousands of auctions on behalf of such clients as the U.S Bankruptcy Courts and financial institutions throughout the country, the U.S. Department of Justice, Internal Revenue Service, Small Business Administration, as well as law firms, private individuals and corporations, nationwide. The 35-year-old firm is nationally recognized as a trusted name in excellence and achievement.

About Motleys Asset Disposition Group

In 1967, Dick and Pokey Motley began Motley’s Auctions in a Chester, Virginia dairy barn. They continued operations over the years at several locations, including the renowned U.S. Route 1 “Wigwam” in Glen Allen, Virginia, just north of Richmond. The Wigwam auctions continue to be remembered for both the unique items sold and the entertainment value the auctions provided. Today, Motleys now employs over 60 full and part time professionals, dedicated to the auction and appraisal industry, and offers a full array of asset sales, valuations, and management services. Specialized divisions include Real Estate, Industrial, Appraisals, Business & Estate Liquidations as well as its sister company, Motleys Richmond Auto Auction. Motleys serves thousands of federal and local governments, public utilities, corporations, financial institutions, the legal community, executors, and business owners located throughout the Mid-Atlantic region.